February 22, 2006

Plenty Ventured, Plenty to Gain

From TCM Net, published a couple of days ago:

CHAMPAIGN -- An audit of IllinoisVentures shows that as of midyear 2005, most of its investments were concentrated in 10 companies.

IllinoisVentures, a private company formed by the University of Illinois to help start-up companies, had $2.35 million in investments as of June 30, according to an audit performed for the Illinois auditor general.

Of those investments, about $1.23 million were in the form of common or preferred stock in the fledgling companies. The remainder were in the form of debt instruments that can be converted to stock if and when IllinoisVentures chooses.